Sei Investments Co. Trims Stake in Edison International (EIX)
Sei Investments Co. cut its holdings in Edison International (NYSE:EIX) by 8.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 394,871 shares of the utilities provider’s stock after selling 36,131 shares during the period. Sei Investments Co. owned about 0.12% of Edison International worth $24,983,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of EIX. Signaturefd LLC bought a new stake in shares of Edison International in the 1st quarter worth about $102,000. Kiley Juergens Wealth Management LLC bought a new stake in shares of Edison International in the 2nd quarter worth about $110,000. Adviser Investments LLC bought a new stake in shares of Edison International in the 1st quarter worth about $152,000. Summit Trail Advisors LLC increased its holdings in shares of Edison International by 15,304.3% in the 1st quarter. Summit Trail Advisors LLC now owns 176,687 shares of the utilities provider’s stock worth $177,000 after buying an additional 175,540 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Edison International by 416.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,045 shares of the utilities provider’s stock worth $177,000 after buying an additional 2,455 shares during the last quarter. Hedge funds and other institutional investors own 81.48% of the company’s stock.
Edison International opened at $66.63 on Friday, Marketbeat Ratings reports. Edison International has a 12 month low of $57.63 and a 12 month high of $83.38. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.66 and a quick ratio of 0.61. The stock has a market cap of $21.97 billion, a P/E ratio of 14.81, a PEG ratio of 2.83 and a beta of 0.17.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 31st. Investors of record on Monday, July 2nd were paid a dividend of $0.605 per share. The ex-dividend date of this dividend was Friday, June 29th. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.63%. Edison International’s dividend payout ratio is presently 53.78%.
EIX has been the topic of a number of research reports. SunTrust Banks restated a “buy” rating and issued a $75.00 target price on shares of Edison International in a report on Wednesday, July 25th. Citigroup boosted their target price on shares of Edison International from $66.00 to $72.00 and gave the stock a “hold” rating in a report on Tuesday, May 1st. Morgan Stanley boosted their target price on shares of Edison International from $67.00 to $72.00 and gave the stock an “equal weight” rating in a report on Monday, July 16th. TheStreet upgraded shares of Edison International from a “c” rating to a “b-” rating in a report on Thursday, July 5th. Finally, Zacks Investment Research upgraded shares of Edison International from a “sell” rating to a “hold” rating in a report on Tuesday, June 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $74.07.
Edison International Profile
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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